Anglo American Platinum Production Fell 4% in Fourth Quarter

By FeaturesDow Jones Newswires

Anglo American Platinum Ltd.'s (AMS.JO) total output of platinum group metals in the fourth quarter fell 4% on year due to reduced operations at its Bokoni mine and the temporary closure of its Mototolo concentrator.

The South African miner said Thursday that it produced a total of 1.2 million ounces of platinum group metals in the quarter, down from 1.3 million ounces in the same period a year earlier.

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Production from its own-managed mining operations rose 4% to 624,200 ounces due to a strong performance at its Mogalakwena operation, it said. Joint-venture production was flat at 265,800 ounces and purchases of platinum-group-metal concentrate from associates fell 27%.

Sales volume rose 19%, partly driven by selling down of refined stock to normalized levels, the company said.

Anglo American Platinum said its total production rose 1% in the full year, to 5.0 million ounces.

Write to Adam Clark at; @AdamDowJones

(END) Dow Jones Newswires

January 25, 2018 02:48 ET (07:48 GMT)

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